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Amphion Innovations pledges Polarean shares as loan security

Polarean shares currently trade at 17.5p. Amphion has 18.37mln Polarean shares

US dollars
The outstanding loan amount is roughly US$3.65mln

Amphion Innovations PLC (LON:AMP) has put its stake in Polarean Imaging Plc up as additional security for a loan.

The developer of medical, life science, and technology businesses said the loan amount under the facility with the company's debt provider continues to be also secured by the company's recently reduced stake in Motif Bio.

READ: Amphion Innovations sells further batch of shares in partner Motif Bio

Amphion currently holds 18,779,611 ordinary shares of Motif, representing 5.5% of the issued share capital, and 18,372,523 shares of Polarean.

The outstanding loan amount is roughly US$3.65mln and is repayable on 30 September of this year.

Under the amended terms of the loan facility, the interest rate will remain at 10% per annum; the lender will also receive 15% of the future appreciation on 10mln of Amphion's holding in Motif, above 10 pence, and will also participate in 15% of the appreciation of 10mln Polarean shares held by the Amphion, above 18 pence.


 

 

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Price: 0.15 GBX

AIM:AMP
Market: AIM
Market Cap: £314.96 k
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Watch

Amphion Innovations president on significant partner developments and strategy

Bob Bertoldi, president of Amphion Innovations PLC (LON:AMP) caught up with Proactive London’s Andrew Scott to discuss some of the big 2018 developments at the partner companies including Polarean Imaging (LON:POLX) and Motif Bio PLC (LON:MTFB) Polarean’s recently raised US$4mln through a...

on 14/12/18

2 min read